Respected experts,
my queries are:
1. Whether penalty collected by RERA is subject to GST as per Schdule-II. As per sl. No 62 of note. 12/2017
GST rate it is not exempted as RERA is not a local authority?
2. Whether fees deposited to GST IS subject to GST.
With regards
Debate on Whether RERA Penalties Fall Under GST as 'Supply of Service' per Schedule II; Fees' GST Status Varies The discussion revolves around whether penalties collected by the Real Estate Regulatory Authority (RERA) are subject to Goods and Services Tax (GST) under Schedule II. One participant argues that statutory penalties should not be considered a 'supply of service' and thus not subject to GST, suggesting this issue should be resolved by the courts. Another participant concurs, stating penalties are not income and should not incur GST. The second query concerns whether fees collected by RERA are subject to GST, with responses indicating that this depends on the nature and purpose of the fees. (AI Summary)
TaxTMI 
TaxTMI 
